Tax Deduction at Source: co-operative societies must withhold tax from contractor payments, extending withholding obligations to contractors and sub contractors. Section 194C is amended to require co-operative societies to deduct tax at source from payments to contractors for works and labour contracts; contractors (other than individuals or Hindu undivided families) receiving such contracts from co-operative societies must in turn deduct tax from payments to sub contractors. The obligation applies where consideration exceeds the statutory threshold and excludes sums paid or credited before the amendment's commencement.